On the 24th, Woori Financial Group announced that it has selected four candidates as the first-round nominees for the next Woori Bank President: Lee Seok-tae, Head of Domestic Banking Division at Woori Bank; Kang Shin-guk, Head of Corporate Investment Banking Division at Woori Bank; Park Wan-sik, CEO of Woori Card; and Jo Byung-kyu, CEO of Woori Financial Capital.
On the same day, immediately after Lim Jong-ryong, Chairman of Woori Financial Group, took office, the Subsidiary CEO Candidate Recommendation Committee (Saejuwi) held its first meeting and officially began the process of appointing the Woori Bank President. After discussions, the committee included these four individuals on the long list. All first-round candidates are current internal executives.
The committee reached a consensus that a bank president with strong sales capabilities should be appointed, in line with the management policy of 'generation-changing' leadership for organizational renewal and the principle that 'the holding company focuses on strategy, while subsidiaries focus on sales.' The committee unanimously selected key current executives within the group as candidates.
These four candidates will be evaluated through the 'Bank President Selection Program' while continuing their current duties. The selection program consists of four stages: expert in-depth interviews, reputation checks, job competency assessments, and in-depth interviews. The committee plans to finalize a shortlist of two candidates after completing the in-depth interviews and job competency assessments. The bank president will be finally appointed after the fourth-stage in-depth interview. The final appointment is scheduled for the end of May.
A Woori Financial Group official stated, "Based on the experience gained from implementing the newly introduced bank president selection program, we plan to establish a management succession program system for selecting executives such as the chairman, bank president, and other officers. This will be addressed as part of the agenda for 'establishing a new corporate culture.'"
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